Absci Co. (NASDAQ:ABSI) CFO Zachariah Jonasson Sells 19,859 Shares of Stock

Absci Co. (NASDAQ:ABSI) CFO Zachariah Jonasson sold 19,859 shares of Absci stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $4.98, for a total transaction of $98,897.82. Following the transaction, the chief financial officer now directly owns 384,751 shares in the company, valued at $1,916,059.98. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Absci Trading Down 8.9 %

NASDAQ:ABSI opened at $3.98 on Friday. Absci Co. has a 12 month low of $1.11 and a 12 month high of $6.72. The company has a quick ratio of 7.19, a current ratio of 7.19 and a debt-to-equity ratio of 0.02. The firm’s 50 day moving average is $4.82 and its 200 day moving average is $4.37.

Absci (NASDAQ:ABSI) last issued its earnings results on Monday, May 13th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.03). The firm had revenue of $0.90 million during the quarter, compared to the consensus estimate of $2.50 million. Absci had a negative net margin of 2,042.01% and a negative return on equity of 44.60%. During the same quarter in the previous year, the firm earned ($0.26) earnings per share. Equities research analysts expect that Absci Co. will post -0.8 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Absci

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Comerica Bank purchased a new stake in shares of Absci during the 1st quarter valued at approximately $31,000. Kennedy Capital Management LLC purchased a new stake in shares of Absci during the first quarter worth $358,000. Redmile Group LLC lifted its position in shares of Absci by 2.8% during the first quarter. Redmile Group LLC now owns 8,253,316 shares of the company’s stock worth $46,879,000 after acquiring an additional 222,222 shares in the last quarter. Affinity Asset Advisors LLC bought a new position in shares of Absci in the first quarter worth $5,822,000. Finally, EntryPoint Capital LLC purchased a new position in shares of Absci in the first quarter valued at $244,000. Institutional investors own 52.05% of the company’s stock.

Wall Street Analyst Weigh In

ABSI has been the subject of several analyst reports. KeyCorp increased their price objective on shares of Absci from $5.00 to $8.00 and gave the company an “overweight” rating in a research note on Monday, March 4th. Truist Financial reiterated a “buy” rating and set a $9.00 price target on shares of Absci in a report on Tuesday, March 26th. HC Wainwright restated a “buy” rating and issued a $7.00 price objective on shares of Absci in a research note on Wednesday, May 15th. Finally, Scotiabank reiterated an “outperform” rating and set a $13.00 target price on shares of Absci in a research note on Monday, March 25th.

Absci Company Profile

Absci Corporation operates as a data-first generative artificial intelligence (AI) drug creation company in the United States. The company combines AI with scalable wet lab technologies to create biologics for patients. Its integrated drug creation platform is designed to improve upon traditional biologic drug discovery by using AI to simultaneously optimize multiple drug characteristics that may be important to development and therapeutic benefit.